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Multinational Influences On New South Wales Businesses

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Businesses in New South Wales face a multitude of contemporary issues never experienced in previous times. This is an issue within itself as many businesses, especially small businesses, are effectively in the dark on how to overcome these issues successfully as their are essentially no case studies to mirror. Listed below are examples by no means exhaustive on contemporary issues plaguing NSW businesses Multinational Influences on New South Wales Businesses New South Wales businesses face competition from multinational competitors with extensive reserves from operations in other countries. The rising prominence of Australia as an income-rich country has invoked interest from a myriad of overseas businesses looking to establish market share in relevant sectors. In the supermarket chains, German multinational Aldi and American bulk wholesaler Costco have shown increasing favorability in families looking to stretch their incomes further. These low cost, bulk buying businesses are threatening the major established supermarkets. In the Fashion industry, former market dominators David Jones and Myer are now in competition with multinational companies including Spanish owned Zara, Swedish H&M, and the United Kingdom’s Topshop/man franchises. New South Wales businesses must innovate operations to regain dominance in their relevant sectors in order to compete against the rise of multinational business operation in Australia. …show more content…

This not only affects the agricultural industry, but all tertiary businesses in these regions. With less disposable income of the local populace, local businesses have seen a decrease in trade at their businesses. This is especially noticeable in the far west region, where once bustling main streets now lay

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Myer is one of Australia’s largest department stores, which has created a large impact on Australian society. It was founded in 1900 by Sidney Myer and his brother Elcon who opened their first store in Bendigo, Victoria. The store being a huge success, Myer and his brother opened more locations in Melbourne and Adelaide continuing to increase the company's locations. Over the decades, Myer has expanded their business, with now having roughly 10,000 employees and 60 department stores across Australia. The company has played a crucial part in Australia’s economy by providing employment to thousands of people, offering a wide range of products at competitive prices, satisfying consumer wants and needs and Moreover, providing a major boost to the

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Stage 2 Economics Question One The supermarket industry of Australia likely has the market structure of an oligopoly. It has many of the characteristics of an oligopoly. It has a few firms that supply most of the market, a high degree of product differentiation, significant barriers to entry and significant control over price. Few firms that supply most of the market There are four major supermarket chains in Australia – Woolworths, Coles, Aldi and IGA which each have a large share of market sales. There is competition from other supermarkets but they are relatively insignificant.

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They needed the complete takeover of the organization for the first time in the history this hand over was finished. Through 1990s these two organizations included totally into a difficult structure (Mellahi and Frynas 2015). In 2003, through a strategic review it is identified that, those two unfruitful stores: gourmet nourishment retail locations and David Jones Online electronic business had shut down totally. Because of this episode, alternate stores including the lead Market Street and Elizabeth Street stores were rejuvenated in Sydney. In this period, the profit growth and sales growths are were not expanding persistently inspite of having a huge demand of Australian products to the customers.

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Woolworths Limited has been ranked Australia’s leading retail stores. With the aim of maintain the

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Communication Australians are often direct and clear-cut in their business communication. They are once in a while threatened by others' status of significance and talk evidently when passing on their thoughts. In like manner, they wish to be given the plain realities and will reject focuses that are made utilizing passionate buildup. While showing a thought, abstain from concentrating on the superfluous subtle elements and rather push the certainties, figures and objectives. Australians are likewise prone to be open in the event that they can't help contradict you.

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Spread of innovation and technology; The most important factor for economic progress and human progress is technological innovation. Competition and progress are promoted or supported by investments in innovation and spending on research & development and innovation. This is how long-term economic growth is achieved. Their overall standard of living is enhanced through increased productivity and access to new, better goods and services. Sometimes it takes time for the benefits of innovation to become apparent (develop).

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International Presence & Globalization Globalization in the process that brings the world closer together through international trade, aided by information technology, which has immensely transformed the economy and society of Australia. “While Australia’s geographic isolation has often been labeled a “tyranny of distance” for Australian firms’ trade and investment, it has been turned into an advantage by some firms, supported by the forces of globalization as firms deepen their internationalization.” (Kastelle & Liesch, 2013, pg. 25) Since the end of World War II, this distance has become less of a barrier causing hindrance, and could become more beneficial as globalization accelerates. Their location has kept them far from the migrant crisis

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However the Australian expansions of German discount supermarket chain Aldi and the strong performance of Coles has challenged Woolworth’s

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Globalization is the interdependence of world economies that results in the growth of international trade. After the cold war, foreign policy makers believed that the encouragement of globalization would lead to a rise in both the US economy and the global economy, and it did when the Soviet Union fell, because the Soviet satellite states were able to join the global economy. The collapse of communism reinforced ‘western’ visions and western models of development for modernization. The fall of communism also brought notice to the fact that trade is import to the development of a country. In the East Asian system of capitalism and models of development, governments invest in themselves to stimulate growth in the private sector.

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The current conclude that JAEPA will able to give more chance for MNC’s to being set up in Australia. People who agree and disagree with MNC gave view on the Free Trade Agreement (FTA) but at the end the government will decide the decision. As found that the total two way trade was $70.65 billion. There are few MNC like Daiso, 7eleven, and Toyota. Therefore, there are some impacts on MNC’s on Australia being host country and Japan is the home country.

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These firms supply around 25% of retail products where as 75% is purchased from more than 2000 producers. Threat of Substitutes The products that Eataly is offering include wine, pasta, pizza and cheese being their universal product. Eataly is able to differentiate them with artisanal slogan. On the other hand ‘small size market chains’ or larger stores might supply similar or same products from and can be compete or substitute Eataly in long term through changing their structure (Carlucci & Seccia,

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Expansion in capacity of existing firms, such as building a new factory. An increase in supply of a related good example, beef and leather. Climatic conditions are very important for agricultural products. Improvements in technology, example computers, reducing firms’ costs. Lower taxes reduce the cost of goods.

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One advantage of this globalization is the possibility of creating international fashion chains accompanying consumers wherever they are. Inditex took advantage very well that factor. • MICRO: It is formed by forces close to the company that affect its ability to satisfy customers, the business, consumer markets, marketing channels used, competitors and public. Zara 's main competitors are: Sfera, H & M, GAP, Mango, Pull & Bear and Stradivarius. In the graph we see as Zara drink market both national and European business.

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